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Sharplink Inc

SBET Financial Capital Markets

Sharplink Inc’s revenue for fiscal 2025 (year ended December 2025) was $28.1 million, up 666.1% from fiscal 2024.

Revenue
+1,554.0%
EPS
+56.0%
Free cash flow
−339.6%

Quarter to June 2026, against a year earlier

6.43 0.72 −10.07%
Market cap
$1.4B
P/E
0.0×
Fwd P/E
−1.3×
Dividend yield
—
F-score
3/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 47.93
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 1 — 3 — — — — 1 —
Insider Ownership 3.33%

Capital & Financial Ratios $m

Size
Market Cap 1,390.00
Revenue ttm 50.20
Net income ttm (1,709.95)
Free cash flow ttm (33.20)
Net debt Q (56.19)
Valuation
P/E 0.00
Forward P/E (1.33) (negative: loss-making)
Price / sales 26.87 (above 10: high)
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.96
Financial health
Current ratio Q 10.45
Debt / equity Q 0.00
Interest coverage Q (2,152.40)
Growth
Revenue growth Q +1,553.95% (above 0%: growing)
Operating income growth Q −280.39% (below 0%: shrinking)
EPS, this year +31.14% (at or above 15%: strong)
EPS, next year A +101.97% (at or above 15%: strong)
Revenue, next year A +67.71% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/S against its own 10 years 80.82%
10-year low 10-year high
P/B against its own 10 years 66.98%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2 1 30 56
Receivables 0 1 0 0
Inventory — — — —
Other — — — —
71 3 31 57
2023 2024 2025 Q'26
Payables 1 0 13 —
ST’ Debt 5 — — —
Other — — — —
79 0 13 5

Compound Annual Growth %

10y 5y 3y
Sales 6.67% 65.22% 100.32%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 81.75% 347.00% 832.16%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.02 Actual 0.01

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 −0.08 −0.02 Beat by 0.06
Q1 FY26 0.02 0.06 Beat by 0.04
Q2 FY26 0.02 0.01 Miss by 0.01
Q3 FY26 0.02 — Reports 9 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (3.25) (1.88) — — —
’25 (1.84) (4.27) 0.62 (3.26) (7.37)
’24 40.31 (1.35) (3.00) (2.74) 27.49
’23 (12.00) (14.89) (11.88) (23.26) (62.06)
’22 (35.80) (0.50) (10.41) (2.84) (74.43)
’21 — (2.67) — (1.56) (472.99)
’20 (2.40) (26.41) — — (12.72)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 12 12 — — —
’25 1 1 11 16 28
’24 1 1 1 1 4
’23 1 1 1 1 5
’22 2 4 1 (1) 3
’21 — 2 — 3 3
’20 1 1 — — 2
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (11) (7) — — —
’25 (1) (2) (6) (9) (18)
’24 (19) (2) (1) (1) (23)
’23 (15) 3 18 (6) 1
’22 (2) (1) (2) 0 (6)
’21 — (2) — (4) (6)
’20 — — — — (1)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (11) (7) — — —
’25 (1) (2) (6) (9) (18)
’24 (19) (2) 0 (1) (23)
’23 (15) 3 18 (6) 0
’22 (2) (1) (2) 0 (6)
’21 — (2) — (4) (7)
’20 — — — — (1)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 14 7 6 5 2 3 3 5 4 28 50 +8.0% 47 74 100 +53.0%
Gross margin, % 50.80 69.61 63.33 64.24 18.59 (11.36) 37.71 30.95 24.74 93.22 97.02 +42.4 pt
EBT (6) 0 (1) 0 (1) (33) (14) (11) (4) (733) (1,707) +71.5%
EBT margin, % (40.57) (6.07) (14.33) (3.62) (49.94) (1,269.66) (404.27) (226.80) (122.17) (2,614.40) (3,399.89) (2,573.8) pt
Net income (5) 0 (1) 0 (1) (56) (15) (11) (4) (735) (1,710) +73.3%
Per share, $
Per share, $ Revenue 1,201.03 541.84 409.86 248.60 25.46 22.13 16.84 21.53 12.76 0.28 0.24 (60.5%)
Earnings (446.62) (141.66) (81.63) (6.46) (12.72) (472.99) (74.43) (62.06) 35.17 (7.37) (7.69) (36.6%)
Cash flow (62.05) (33.76) (107.76) (3.06) (8.59) (50.97) (28.64) 2.53 (79.52) (0.18) (0.16) (47.9%)
Capex (43.50) (4.00) (0.98) (2.87) (6.60) (3.88) (0.15) (1.24) 0.52 0.00 0.00 (76.4%)
Free cash flow (105.56) (37.76) (108.74) (5.94) (15.19) (54.85) (28.79) 1.29 (79.00) (0.18) (0.16) (50.9%)
Book value 158.97 136.96 168.04 148.64 15.15 119.16 14.41 (40.87) 7.26 24.26 6.72 (18.9%)
Shares, m 0 0 0 0 0 0 0 0 0 100 167 +173.4%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.19 0.00 0.00 0.0
P/S 0.03 0.05 11.08 0.05 0.09 113.69 0.16 0.89 0.61 31.78 26.87 15.8
P/B 0.23 0.20 33.08 0.08 0.14 50.12 0.28 0.00 1.07 0.37 0.96 8.6
EV/Sales 0.45 0.69 221.25 0.38 1.31 1,135.67 1.81 1.70 1.98 30.92 — 139.6
EV/FCF (6.80) (3.32) (1,122.57) (1.29) (4.01) (989.41) (1.64) 28.28 (0.32) (49.00) — (215.0)
Cash, $m
Cash, $m Operating cash flow (1) 0 (2) 0 (1) (6) (6) 1 (23) (18) (33) +42.5%
Capex (1) 0 0 0 (1) 0 0 0 0 0 0 (34.7%)
Free cash flow (1) 0 (2) 0 (1) (7) (6) 0 (23) (18) (33) +34.3%
Balance, $m
Balance, $m Working capital (2) (2) (1) 0 2 4 (5) (8) 2 18 52 n/m
Net debt (2) (2) (3) (3) (2) (6) 1 4 (1) (30) (56) +34.2%
Shareholders’ equity 2 2 2 3 1 14 3 (9) 2 2,419 1,411 +121.8%
Returns, %
Returns, % ROA (30.43) (16.89) (14.47) (1.73) (18.55) (451.74) (35.61) (20.97) 27.35 (60.35) (182.89) (29.9) pt
ROIC 0.00 0.00 0.00 0.00 0.00 (252.47) (208.15) 0.00 (461.53) (19.20) (78.80) (19.2) pt
ROE (130.38) (98.99) (57.00) (4.93) (52.01) (726.03) (177.54) 445.22 (275.86) (60.68) (183.57) +69.7 pt
People
People Employees 82 65 39 34 24 53 62 51 51 15 — (17.2%)
Revenue/emp, $m 0.17 0.10 0.15 0.15 0.09 0.05 0.06 0.10 0.07 1.87 — +30.4%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Sharplink Inc vs peers in Capital Markets (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
PURR Hyperliquid Strategies Inc $2.4B — (loss-making) — (loss-making) +6,940.21% (above 0%: growing) n/m −6,672.51% (below 0%: shrinking) 100.00% 7,380.58% Compare
MARA Marathon Digital Holdings, Inc. $2.3B — (loss-making) — (loss-making) −26.67% (below 0%: shrinking) n/m +85.60% (above 0%: growing) 17.19% (297.96%) Compare
ETOR eToro Group Ltd. $1.8B 7.4× 10.1× −23.93% (below 0%: shrinking) +71.05% (above 0%: growing) −32.39% (below 0%: shrinking) 15.03% 4.80% Compare
CLSK Cleanspark, Inc. $1.5B — (loss-making) — (loss-making) −30.53% (below 0%: shrinking) n/m +202.37% (above 0%: growing) 38.06% (168.40%) Compare
TOP TOP Financial Group Limited $1.5B 301× — −57.15% (below 0%: shrinking) −94.80% (below 0%: shrinking) −218.07% (below 0%: shrinking) 83.63% 12.41% Compare
SBET Sharplink Inc $1.4B — (loss-making) — (loss-making) +1,553.95% (above 0%: growing) n/m −339.59% (below 0%: shrinking) 97.76% (3,413.02%)
PWP Perella Weinberg Partners $1.3B 30.2× — (loss-making) +52.68% (above 0%: growing) +144.44% (above 0%: growing) +23.10% (above 0%: growing) 30.37% 13.90% Compare
GOLD Gold.com Inc. $1.1B 12.0× 10.9× −11.29% (below 0%: shrinking) n/m −434.55% (below 0%: shrinking) 2.74% 0.00% Compare
OPY Oppenheimer Holdings, Inc. $935.4M 10.7× — (loss-making) −10.00% (below 0%: shrinking) −74.76% (below 0%: shrinking) +106.70% (above 0%: growing) 97.98% 16.73% Compare
Median of peers $1.5B 12.0× — −17.61% −1.86% −4.65% 34.22% 8.61%

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stockrow.com/SBET · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com